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Questions in economics

[Sagot para sa’yo] How can your personal choices affect the larger economy? Give an example.

[Sagot para sa’yo] What assumption do economists make about human behavior? A. People always help others first B. People act randomly C. People are rational and self-interested D. People ignore prices

[Sagot para sa’yo] How do prices help guide economic decisions in a market?

[Sagot para sa’yo] In marginal analysis, what is marginal benefit? A. The total amount spent on goods B. The income from selling a product C. The extra satisfaction gained from one more unit of activity D. The cost of starting a business

[Sagot para sa’yo] Describe the role of entrepreneurs in an economy.

[Sagot para sa’yo] What is GDP and why is it important for a country?

[Sagot para sa’yo] If you were the president of a country, what economic problem would you fix first and why?

[Sagot para sa’yo] What is the difference between microeconomics and macroeconomics?

[Sagot para sa’yo] Give one example each of renewable and nonrenewable resources, and explain why they are classified that way.

[Sagot para sa’yo] What makes a resource productive in economics?